Stop Cash Shrink

Difficulty accessing typical business banking services has plagued the cannabis industry since its inception. While cannabis remains a largely a cash-based industry in some states, numerous companies have managed to tactfully operate around financial obstacles with some success. The main concern banks face is that because marijuana remains on Schedule 1 of the Controlled Substances

Artwork for Legalized Cannabis and Considerations for Bankers ABA BANKING JOURNAL PODCAST Legalized Cannabis and Considerations for Bankers Comptroller of the Currency Joseph Otting said today that he hopes that the current conflict between state and federal laws that inhibits banks from serving cannabis-related businesses will be resolved by 2020. “Congress is going to have

President Trump’s nominee for Attorney General Bill Barr told senators in his confirmation hearing that he’s not interested in attacking state-legal cannabis businesses. Responding to questions posed by Sen. Cory Booker (D-New Jersey) and Sen. Kamala Harris (D-California), Barr referenced the Cole Memo, an Obama-era guidance for the Department of Justice that was rescinded last

In 2016, a Republican sweep in races for Congress and the White House signaled the likelihood of changes in arcane banking regulations that elated Wall Street but were as familiar to the denizens of Main Street as the text of the Magna Carta or the 39 signatures on the U.S. Constitution. The results of last

Why do financial institutions fail to serve the cannabis industry? You’ve certainly heard that question enough. It’s probably a little more complex than many realize. There are regulations, laws, complexity, reputation, etc. to consider. However, it is not just the financial institution telling you ‘NO’ because they won’t bank your cannabis business…. Third Parties play